The Nigerian Securities and Exchange Commission (SEC) will allow the trading of non-crypto asset-backed tokens on digital asset exchanges.
According to Bloomberg’s May 1 report Nigeria, where cryptocurrency adoption is very high SEC Chairman Abdulkadir Abbas In an interview, he said that the digital asset exchanges in the country stock, debt or real estate any asset, such as %one hundred based on “tokenized securities” allowed to trade will be given He stated that cryptocurrencies will not be included in these.
Abbas, the current decision expand market participation stating that for the purpose Bitcoin (BTC) And Ethereum (ETH) other digital assets, including market giants such as banned He stressed that he will continue to stay. In his statement on the subject, the President used the following statements:
As an editor, we like to start with the simple and clear ones before moving on to the complex ones.
In addition, operating in the country in this context Not allowed cryptocurrency exchanges attempt purpose from the licensing process Expressing that the 1 year only as permitted by the SEC during the process. basic services that they will present. Chairman, at the end of this process, the trial period of the stock market to continue, to cease operation or the firm to licensing He said they could decide.
A large part of its population the young one And USA other than P2P (peer to peer) on crypto trading platforms highest With this move, the market participation of the country with the largest pretty fast somehow increase in was expected.
Central Bank of Nigeria (CBN), 2021 of the year February per month bitcoin and cryptocurrency transactions had banned. In February of last year Nigerian government, cryptocurrencies legal aspect recognition for one on the draft law announced that he was working.